RT: Judge won’t let Citigroup get away with FRAUD

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In a historic blow to the big banks, a federal judge this week issued a landmark decision by shutting down Citigroup Inc’s offer of settling Securities and Exchange Commission complaints with a measly $285 million.

“Judge Rakoff is an extremely intelligent and well respected judge and therefore any judge would read what he’s written,” attorney Marty Perschetz from the Schulte, Roth & Zabel first tells the Los Angeles Times.

“In any case like this that touches on the transparency of financial markets whose gyrations have so depressed our economy and debilitated our lives, there is an overriding public interest in knowing the truth,” says the judge.      RT

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